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Engineers India Limited (EIL)
Ø EIL, 90.4% owned by government, has reported very good performance for Q2 FY 2009. Net Sales doubled to Rs. 344 crore
(Rs. 166.99 crore) led by substantial jump in Lump Sum Turnkey (LSTK) turnover of Rs. 161.94 crore (Rs. 17.91 crore). It
should be noted that LSTK business is not evenly spread out. Company books turnover as per % of completion of contract.
Consultancy & Engineering business registered 22.1% increase in sales of Rs. 182 crore. OPM% however declined to 18.5%
(28.1%) due to change in sales composition more in favour of lower margin LSTK business. Nevertheless, strong sales
growth coupled with 25% higher other income of Rs. 37.5 crore led to 35% increase in PBT of Rs. 98.8 crore (Rs. 73.13
crore) and 33% increase in PAT of Rs. 66.17 crore.